Bitcoin currency of the future?

[Der Eisbär]

Odd how it stabled off there. Wonder if it recovers to new heights or tapers off over the weekend.

i dont think its going below 250-275 ever again

 

[Der Eisbär]

Looks like I'll have to get GDAX to sell some LTC. Got some at $129

hold it

 

[rj144]

Odd how it stabled off there. Wonder if it recovers to new heights or tapers off over the weekend.

That's the pattern for a while. They have a run, then a small correction, and then they stabilize for a few days. Rinse and repeat.

 

[fatmatic]

hold it

That's tempting also. I don't neeeeeeeed it but would be fun to play with at the moment.

 

[CauseImbetta]

I wamna get Ripple! But my hard wallet doesn't take it. How will i store it then?

 

[Der Eisbär]

I wamna get Ripple! But my hard wallet doesn't take it. How will i store it then?

store it on the exchange

 

[CauseImbetta]

store it on the exchange

They get hacked!!

 

[Der Eisbär]

They get hacked!!

There are billions stored on the exchanges. Coinbase doesn't get hacked, gemini doesnt, kraken doesnt, binance doesn't. Wait until your holdings are actually large before worrying about getting them off exchanges

 

[CauseImbetta]

There are billions stored on the exchanges. Coinbase doesn't get hacked, gemini doesnt, kraken doesnt, binance doesn't. Wait until your holdings are actually large before worrying about getting them off exchanges

Coinbase got hacked before man.

 

[Der Eisbär]

Coinbase got hacked before man.

Source?

 

[CauseImbetta]

Source?

I might be wrong. I could have sworn it was them. I'll check.

 

[Orgasmo]

How much is the cumulative total investment in Bitcoin and other cryptocurrencies now? I think Bitcoin itself alone is about 290 billion. If this thing keeps on going and sucking in money, it might trigger a new recession when it pops. You know shit is getting crazy when your barber is offering you investment advice.

I might sell some of my stocks and move the money to a more defensive bond instead. This has bad omen written all over it.

 

[Der Eisbär]

I might be wrong. I could have sworn it was them. I'll check.

Youre probably thinking of the notorious mt.gox hack, which did happen, crashed the exchange and tanked the market.

 

[CauseImbetta]

Source?

https://bitcoinexchangeguide.com/top-cryptocurrency-theft-hacks/

See this list. They are a target because they are HUGE. Not on the list yet but coming soon I'm sure. I mistook them for another exchange.

Never keep coins in exchanges!! Exchanges don't even have your coins, like a bank spend them because they have your private keys. When you ask for them they give you new private keys worth your coins.

 

[CerebralKnievel]

How much is the cumulative total investment in Bitcoin and other cryptocurrencies now? I think Bitcoin itself alone is about 290 billion. If this thing keeps on going and sucking in money, it might trigger a new recession when it pops. You know shit is getting crazy when your barber is offering you investment advice.

I might sell some of my stocks and move the money to a more defensive bond instead. This has bad omen written all over it.

Bonds are just such garbage. I don't understand the appeal. I'd rather just put that money into gold.

 

[Der Eisbär]

How much is the cumulative total investment in Bitcoin and other cryptocurrencies now? I think Bitcoin itself alone is about 290 billion. If this thing keeps on going and sucking in money, it might trigger a new recession when it pops. You know shit is getting crazy when your barber is offering you investment advice.

I might sell some of my stocks and move the money to a more defensive bond instead. This has bad omen written all over it.

Bitcoins market cap is around 300 billion. Gold is around 60 trillion. We're going somewhere in that ballpark. 10-60 trillion market cap when all is said and done.

 

[Der Eisbär]

https://bitcoinexchangeguide.com/top-cryptocurrency-theft-hacks/

See this list. They are a target because they are HUGE. Not on the list yet but coming soon I'm sure. I mistook them for another exchange.

Never keep coins in exchanges!! Exchanges don't even have your coins, like a bank spend them because they have your private keys. When you ask for them they give you new private keys worth your coins.

If you want to trade, you have to keep your coins on the exchange. I agree keeping coins on the exchange long term is a bad move and hardware wallets are essential.

 

[Orgasmo]

Bonds are just such garbage. I don't understand the appeal. I'd rather just put that money into gold.

Gold has been hedge against inflation historically. Fixed bond funds can still have a reasonable growth rate, not to mention decent dividends.

 

[CauseImbetta]

If you want to trade, you have to keep your coins on the exchange. I agree keeping coins on the exchange long term is a bad move and hardware wallets are essential.

Yeah. Dude, tell me what you think. There are way too many coins now. Over 2 k different types. This has to be a bubble. As if we really need Litecoin vs ripple vs other weird names coins. What's the point of all these coins? I don't even know what to buy any more.

 

[Der Eisbär]

Yeah. Dude, tell me what you think. There are way too many coins now. Over 2 k different types. This has to be a bubble. As if we really need Litecoin vs ripple vs other weird names coins. What's the point of all these coins? I don't even know what to buy any more.

You've got to research research research. There is a bubble. The bubble is this massive amount of coins. However, some of these coins are going to succeed. It's not just going to be one.

Some questions you need to ask yourself when investing in an altcoin

1) Does this new coin fill a need that others don't?
1a) Is there high demand for that need/niche?

2) Who's behind the coin? The CEO, the devs, the marketing team.

3) What's their business strategy?

4) Where are they at in their development? Have they launched a working platform? Are they still in their conceptual phase with no product? Do they have a beta out?

5) What's the community consensus around "insert coin here"?

With your example of litecoin vs ripple, ripple is a crypto for financial instituions to provide instant liquidity between them with no fees. It's not really meant for retail consumers. Litecoin is a superior version of bitcoin in that it's designed for the individual user, is nearly instant and has low fees.

Power Ledger (POWR) is going to be a currency tied into the emerging smart energy power grid for buying, selling and trading renewable energy. Don't ask me how it works, I don't know. lol.

Substratum (SUB) is trying to build a decentralized internet where people that host their network get paid in SUB for the use of their computer's resources. People use the SUB coin for access to a decentralized internet that cannot be censored or controlled.

IOTA is the next evolution of block-chain in that it makes the block-chain obsolete and is not actually a block-chain. It is instant and has no fees. The developers are based in Berlin. The company wants IOTA to eventually be used as the currency for the internet of things.

The Internet of things is the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and network connectivity which enable these objects to connect and exchange data.

Ethereum is a decentralized app building platform, with ether being the fuel used to power the network.

What I'm getting at here is these coins arent just made for the purpose of currency. They have different tech behind them and are seeking different market niches. Be wary of a new coin where its only goal is to be used as currency.